Yellen Says ‘Extraordinary Measures’ to Avoid Default Will Start in Mid-January
WASHINGTON—Treasury Secretary Janet Yellen said the U.S. will hit its borrowing limit in the middle of next month, triggering the use of “extraordinary measures” to keep the federal government from defaulting on its obligations.
Janet Yellen says Treasury will need to take 'extraordinary measures' to avoid default next month
The notification to Congress is the clearest sign yet that the fight to avoid default will likely take place in the early months of the new Trump administration.
'Extraordinary measures': Treasury Sec. Yellen warns US could soon hit debt ceiling
Treasury Secretary Janet Yellen warned Congress that the country could hit the debt ceiling as soon as Jan. 14 in a letter sent Friday.
Yellen: US will hit debt ceiling in mid- or late-January
Treasury Secretary Janet Yellen said Friday she expects the U.S. will officially run up against its borrowing limit in mid- to late-January, starting the clock on a major fiscal challenge facing President-elect Donald Trump in his first months in office.
Yellen Warns ‘Extraordinary Measures’ Will Be Needed to Avoid Default
The Treasury secretary urged Congress to protect the full faith and credit of the United States by raising the debt limit.
Yellen Says Treasury to Hit New Debt Limit in Mid-January
Treasury Secretary Janet Yellen said her department is likely to begin taking special accounting maneuvers sometime in mid-January to avoid breaching the US debt limit, and urged lawmakers to take action defending the “full faith and credit” of the US.
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US warns about risk of default
The United States is expected to reach its national debt ceiling in January, as confirmed by Finance Minister Janet Yellen.
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